Civic Intelligence

Arkansas Virtual Academy

990 • Fiscal year 2017 • EIN 43-2017445

Jul 01, 2016 to Jun 30, 2017 • Filed on May 14, 2018

Organization Profilearva.k12.com
4702 West Commercial Drive Suite B3North Little Rock, AR 72116

(501) 664-4225

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

82nd percentile

0.70x

Higher debt load relative to assets than 82% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

24th percentile

0.08x

Higher debt load relative to revenue than 24% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

38th percentile

0.4%

Higher net margin than 38% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

30th percentile

-0.3%

Faster asset growth than 30% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

43rd percentile

2.4%

Faster revenue growth than 43% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$1,465,707

Down $5,054 (-0.3%) from 2016

Net Assets

Up

$438,370

Up $49,537 (+13%) from 2016

Liabilities

Down

$1,027,337

Down $54,591 (-5.0%) from 2016

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin38th percentile

Revenue

Up

$13,125,204

Up $311,431 (+2.4%) from 2016

Expenses

Up

$13,075,667

Up $317,806 (+2.5%) from 2016

Net Income

Down

$49,537

Down $6,375 (-11%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2011: $791,500Liabilities 2011: $690,675Net Assets 2011: $100,8252011Assets 2012: $446,905Liabilities 2012: $266,357Net Assets 2012: $180,5482012Assets 2013: $595,228Liabilities 2013: $479,233Net Assets 2013: $115,9952013Assets 2014: $756,988Liabilities 2014: $547,537Net Assets 2014: $209,4512014Assets 2015: $839,866Liabilities 2015: $506,945Net Assets 2015: $332,9212015Assets 2016: $1,470,761Liabilities 2016: $1,081,928Net Assets 2016: $388,8332016Assets 2017: $1,465,707Liabilities 2017: $1,027,337Net Assets 2017: $438,3702017Assets 2018: $1,775,717Liabilities 2018: $1,317,959Net Assets 2018: $457,7582018Assets 2019: $2,084,567Liabilities 2019: $1,556,451Net Assets 2019: $528,1162019Assets 2020: $1,756,315Liabilities 2020: $987,619Net Assets 2020: $768,6962020Assets 2021: $3,075,159Liabilities 2021: $1,776,518Net Assets 2021: $1,298,6412021Assets 2022: $5,352,341Liabilities 2022: $3,531,104Net Assets 2022: $1,821,2372022Assets 2023: $4,168,028Liabilities 2023: $2,870,213Net Assets 2023: $1,297,8152023Assets 2024: $2,823,365Liabilities 2024: $1,982,997Net Assets 2024: $840,3682024

Highlighted filing

2017

Assets$1,465,707
Liabilities$1,027,337
Net Assets$438,370
Open 2017 Filing

Operations Trend

Revenue Growth43rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MRevenue 2011: $3,400,866Expenses 2011: $3,352,310Net Income 2011: $48,5562011Expenses 2012: $3,334,2702012Expenses 2013: $3,512,8342013Revenue 2014: $7,030,190Expenses 2014: $6,936,734Net Income 2014: $93,4562014Revenue 2015: $11,554,994Expenses 2015: $11,423,566Net Income 2015: $131,4282015Revenue 2016: $12,813,773Expenses 2016: $12,757,861Net Income 2016: $55,9122016Revenue 2017: $13,125,204Expenses 2017: $13,075,667Net Income 2017: $49,5372017Revenue 2018: $14,431,426Expenses 2018: $14,412,038Net Income 2018: $19,3882018Revenue 2019: $17,330,235Expenses 2019: $17,259,877Net Income 2019: $70,3582019Revenue 2020: $19,083,010Expenses 2020: $18,842,430Net Income 2020: $240,5802020Revenue 2021: $27,721,037Expenses 2021: $27,191,092Net Income 2021: $529,9452021Revenue 2022: $37,382,788Expenses 2022: $36,860,192Net Income 2022: $522,5962022Revenue 2023: $37,932,459Expenses 2023: $38,455,881Net Income 2023: -$523,4222023Revenue 2024: $34,754,427Expenses 2024: $35,211,874Net Income 2024: -$457,4472024

Highlighted filing

2017

Revenue$13,125,204
Expenses$13,075,667
Net Income$49,537
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 14, 2018
Return Version
2016v3.0
Gross Receipts
$13,125,204
Mission and Program Overview

Mission

To promote and encourage innovative, effective, and comprehensive educational opportunities for children of Arkansas.

To support, guide, and assist families and colleagues in a positive way through teamwork to promote academic growth that leads to high achievement for the entire Arkansas Virtual Academy community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,288,233$1,319,718▲ $31,485
Accounts Receivable$107,732$90,250▼ $17,482
Total Assets$1,470,761$1,465,707▼ $5,054
Other Assets Total$74,796$55,739▼ $19,057
Liabilities
Accounts Payable and Accrued Expenses$1,007,132$971,598▼ $35,534
Other Liabilities$74,796$55,739▼ $19,057
Total Liabilities$1,081,928$1,027,337▼ $54,591
Net Assets / Fund Balance
Unrestricted Net Assets$353,454$357,999▲ $4,545
Temporarily Rstr Net Assets$35,379$80,371▲ $44,992
Total Net Assets Fund Balance$388,833$438,370▲ $49,537
Total Liabilities and Net Assets / Fund Balance$1,470,761$1,465,707▼ $5,054
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Gary McHenryChair
Jess Askew IIIVice Chair
Ann ClemmerBoard Member
Chad GallagherBoard Member
Stephen DavisBoard Member
Paige GormanSecretary/Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
K-12 IncSee Schedule O2300 Corporate Park Drive, Herndon, VA 20171$7,649,000
Revenue and Support

Revenue Composition

Contributions and Grants
$21,864
Program Service Revenue
$13,103,189
Investment Income
$151
Other Revenue
$0
All Other Contributions
$21,864
Change in Net Assets
$49,537

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,125,204
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$13,125,204
Total Revenue per Form 990
$13,125,204
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,393,786
Salaries, Compensation, and Employee Benefits$3,681,881
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,948,883--$2,948,883
Fees for Services Other$1,073,689--$1,073,689
Fees for Services Management-$373,979-$373,979
Pension Plan Contributions$344,604--$344,604
Payroll Taxes$218,300--$218,300
Other Expenses$213,934--$213,934
Information Technology$202,057$2,573-$204,630
Other Employee Benefits$170,094--$170,094
Office Expenses$72,099$69,412-$141,511
All Other Expenses$10,510$69,850-$80,360
Occupancy-$56,171-$56,171
Insurance$48,860--$48,860
Travel$21,644$5,470-$27,114
Fees for Services Accounting-$25,000-$25,000
Total Functional Expenses$12,473,212$602,455$0$13,075,667

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,075,667
Total Expenses per Audited Statements$13,075,667
Total Expenses per Form 990$13,075,667
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to General Fund$55,739
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The Organization outsources the following services to K-12, Inc.: management, technology, computer leases, learning management systems, cirriculum, books, and educational materials.”

Form 990, Part VI, Section B, line 11B

“A draft copy of the Form 990 is emailed to each Board member for review prior to filing.”

Form 990, Part VI, Section B, line 12C

“Each board member is required to sign the conflict of interest form attached to the policy and list any conflicts or potential conflicts. Those forms are kept on file. They are also reminded that as stated in the policy, any conflicts or potential conflicts that arise during the year must be immediately disclosed.”

Form 990, Part VI, Section C, line 19

“The Organization provides policy and financial information to the public upon request at the address listed on Page 1.”

Filing and Contact Details

Filer

Filer Name
Arkansas Virtual Academy
EIN
43-2017445
Phone
5016644225
Address
4702 West Commercial Drive Suite B3, North Little Rock, AR 72116

Signing Officer

Name
Paige Gorman
Title
Secretary / Treasurer
Phone
5016644225
Signed
2018-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paige Gorman
Formed
2003
Legal Domicile
Ar
Voting Board Members
6
Independent Board Members
6
Employees
94
Volunteers
45

Preparer

Firm
Thomas & Thomas LLP
Address
201 E Markham Suite 500, Little Rock, AR 72201
Preparer
Randy L Milligan
Phone
5013752025
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1:

“The method of accounting disclosed on Part XII of the 990 has been revised to match the method presented in the Organization's audited financial statements. This 990 presentation is consistent with previous filings in terms of numbers reported, strictly a disclosure change.”

Raw XML Appendix390 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt013075667
IRS990ScheduleD/TotalLiabilityAmt055739
IRS990ScheduleD/TotalRevenuePerForm990Amt013125204
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt013125204
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt013075667
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0All advertising, solicitation, and promotional materials include a statement of non-discrimination.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1The organization receives assistance from government agencies including the U.S. Department of Education and the Arkansas Department of Education.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Part I, Line 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization outsources the following services to K-12, Inc.: management, technology, computer leases, learning management systems, cirriculum, books, and educational materials.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A draft copy of the Form 990 is emailed to each Board member for review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Each board member is required to sign the conflict of interest form attached to the policy and list any conflicts or potential conflicts. Those forms are kept on file. They are also reminded that as stated in the policy, any conflicts or potential conflicts that arise during the year must be immediately disclosed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization provides policy and financial information to the public upon request at the address listed on Page 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The method of accounting disclosed on Part XII of the 990 has been revised to match the method presented in the Organization's audited financial statements. This 990 presentation is consistent with previous filings in terms of numbers reported, strictly a disclosure change.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 1:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt035379
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt080371
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01470761
IRS990/TotalAssetsEOYAmt01465707
IRS990/TotalAssetsGrp/BOYAmt01470761
IRS990/TotalAssetsGrp/EOYAmt01465707
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt021864
IRS990/TotalEmployeeCnt094
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0602455
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012473212
IRS990/TotalFunctionalExpensesGrp/TotalAmt013075667
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01081928
IRS990/TotalLiabilitiesEOYAmt01027337
IRS990/TotalLiabilitiesGrp/BOYAmt01081928
IRS990/TotalLiabilitiesGrp/EOYAmt01027337
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0388833
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0438370
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt012473212
IRS990/TotalProgramServiceRevenueAmt013103189
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0151
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013103189
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt013125204
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt045
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01470761
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01465707
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt05470
IRS990/TravelGrp/ProgramServicesAmt021644
IRS990/TravelGrp/TotalAmt027114
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0353454
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0357999
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04702 West Commercial Drive Suite B3
IRS990/USAddress/CityNm0North Little Rock
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072116
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0arva.k12.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Paige Gorman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Secretary / Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum05016644225
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Arkansas Virtual Academy
ReturnHeader/Filer/BusinessNameControlTxt0ARKA
ReturnHeader/Filer/EIN0432017445
ReturnHeader/Filer/PhoneNum05016644225
ReturnHeader/Filer/USAddress/AddressLine1Txt04702 West Commercial Drive Suite B3
ReturnHeader/Filer/USAddress/CityNm0North Little Rock
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072116
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09BADA5A627E3047C7B34C77E2E79682F7FFF5848
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0273A2DDFED52702F90AC1113A6456F11770F3F37
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt012.188.221.99
ReturnHeader/FilingSecurityInformation/IPDt02018-05-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:28:31
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710271741
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Thomas & Thomas LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 E Markham Suite 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Little Rock
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd072201
ReturnHeader/PreparerPersonGrp/PhoneNum05013752025
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Randy L Milligan
ReturnHeader/ReturnTs02018-05-15T15:19:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,465,707
Liabilities
$1,027,337
Net assets
$438,370
Revenue
$13,125,204
Expenses
$13,075,667
Net income
$49,537
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$1.98$0.84$34.8$35.2$0.46
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.17$2.87$1.30$37.9$38.5$0.52
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.35$3.53$1.82$37.4$36.9$0.52
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.08$1.78$1.30$27.7$27.2$0.53
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.76$0.99$0.77$19.1$18.8$0.24
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$1.56$0.53$17.3$17.3$0.07
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.78$1.32$0.46$14.4$14.4$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.47$1.03$0.44$13.1$13.1$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.47$1.08$0.39$12.8$12.8$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.84$0.51$0.33$11.6$11.4$0.13
2014Detailed filing. Detailed filing data is available for this year.$0.76$0.55$0.21$7.03$6.94$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.48$0.12$3.51
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.27$0.18$3.33
2011Summary only. Only limited summary data is available for this year.$0.79$0.69$0.10$3.40$3.35$0.05